How To Handle Buyer's Cashier's Check For Large Amount

[securityinfo]

Having large amounts of cash on your person equals very high probability of Civil Asset Forfeiture.

See: Steve Lehto:

 

[Tinytim]

You call the issuing bank and verify funds . I have done this with cashiers checks before , your bank can and many times will when it is a cashiers check for a large amount,

^^^^^ this along with a photo of his DL, him and vehicle tag, I’d personally meet at his bank and get cash.
Years ago, I took a cashiers check ($7,000), took it to my bank, who said it was valid, five days later I get a very excited bank employee who told me it was a fraud CC, I only deal with cash now.

 

[Tinytim]

We just had a large cashier's check my wife took out on her account in TX so we could put it in our acct here. The bank said there's no way to really verify the check was good and their policy is to hold it for 10 days. They actually released the funds the following day. But it's still a pain in the ass. I wouldn't trust a stranger with an amount that large.

If he can get a cashier's check, he can get cash. Either that or have him do a wire transfer. It's instant, it's more expensive, but it's secure.

My bank only charges $15. For wire transfer.

 

[Tinytim]

Having large amounts of cash on your person equals very high probability of Civil Asset Forfeiture.

See: Steve Lehto:

 

[Tinytim]

I’ve met cops who, all had attended highway interdiction training and to a man said that if they had a contact with an individual, who possessed $3,000, or more, they would siege it, my response was that may work on ignorant people, especially non English people, but that an illegal 4th ammendmant seizure would place them in civil court facing civil rights violation charges. The officer must couple articulatable facts that would give the officer PC to believe that the $$$$ was illgotten gains.
It was obvious to me that they had received training from a jack booted thug, with a badge.

 

[beardking]

I was hesitant to accept a cashier's check when I sold my Mustang, but it was my fault that they arrived with one because I never said CASH ONLY. I would be hesitant myself to go carrying around $16K in cash, so I wasn't overly upset with the cashier's check. Lucky for me, other than the bank putting a 5 day hold on the check, I had no issues at all with it.

 

[securityinfo]

I’ve met cops who, all had attended highway interdiction training and to a man said that if they had a contact with an individual, who possessed $3,000, or more, they would siege it, my response was that may work on ignorant people, especially non English people, but that an illegal 4th ammendmant seizure would place them in civil court facing civil rights violation charges. The officer must couple articulatable facts that would give the officer PC to believe that the $$$$ was illgotten gains.
It was obvious to me that they had received training from a jack booted thug, with a badge.

Sadly, no, it's just the law of the land. As far as holding police to any constitutional violations, see Qualified Immunity:

You cannot hold police liable for violations of your constitutional rights. Directly from the Supreme Court of the United States.

These facts are alarming, and justifiably so. The only way to change these laws is to petition our legislature to do so. They generally are unwilling.

 

[swampratt]

Remember when you were a kid and someone owed you 50 cents and if he did not pay he would end up "paying for it".

I wish the bottom would fall out sometimes just to collect those 50 cent pieces.

 

[John6185]

The guy was a retired Dentist and his wife was the daughter od. deceased Colonel. I went int he credit union and asked the clerk if they would call to verify that the check was legit and valid and they said yes they would.
So that's what happened and all is well but you guys had some great tips and experiences to relate! Thanks to all!

 

[Chief Sapulpa]

The guy was a retired Dentist and his wife was the daughter od. deceased Colonel. I went int he credit union and asked the clerk if they would call to verify that the check was legit and valid and they said yes they would.
So that's what happened and all is well but you guys had some great tips and experiences to relate! Thanks to all!

So you're hosting the next E&S at whatever range you choose?